Nuveen LLC Purchases New Shares in FB Financial Corporation $FBK

Key Points

• Nuveen LLC acquired 847,176 shares of FB Financial Corporation, valued at approximately $39.3 million, increasing its ownership to about 1.84% of the company.
• FB Financial's stock recently had a price drop of 1.1%, with shares trading at $50.47 and a market cap of $2.72 billion.
• The company announced a quarterly dividend of $0.19 per share, representing a 1.5% yield, with an ex-dividend date set for August 12th.

Nuveen LLC bought a new stake in shares of FB Financial Corporation (NYSE:FBK - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 847,176 shares of the financial services provider's stock, valued at approximately $39,275,000. Nuveen LLC owned about 1.84% of FB Financial as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Invesco Ltd. lifted its position in FB Financial by 93.9% during the first quarter. Invesco Ltd. now owns 204,118 shares of the financial services provider's stock valued at $9,463,000 after acquiring an additional 98,843 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of FB Financial by 135.5% in the first quarter. Deutsche Bank AG now owns 75,384 shares of the financial services provider's stock worth $3,495,000 after buying an additional 43,370 shares during the last quarter. 12th Street Asset Management Company LLC raised its holdings in shares of FB Financial by 1.5% in the first quarter. 12th Street Asset Management Company LLC now owns 200,254 shares of the financial services provider's stock worth $9,284,000 after buying an additional 2,954 shares during the last quarter. XTX Topco Ltd raised its holdings in shares of FB Financial by 230.1% in the first quarter. XTX Topco Ltd now owns 19,248 shares of the financial services provider's stock worth $892,000 after buying an additional 13,417 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of FB Financial in the first quarter worth $1,149,000. Hedge funds and other institutional investors own 65.40% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on FBK shares. Keefe, Bruyette & Woods raised shares of FB Financial from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $52.00 to $58.00 in a report on Friday, July 11th. Wall Street Zen cut shares of FB Financial from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $58.25.

FB Financial Stock Down 0.6%

Shares of NYSE:FBK traded down $0.2980 during midday trading on Thursday, reaching $50.1720. The company's stock had a trading volume of 381,507 shares, compared to its average volume of 440,859. The firm has a market capitalization of $2.70 billion, a PE ratio of 26.00 and a beta of 0.92. FB Financial Corporation has a twelve month low of $38.83 and a twelve month high of $58.88. The stock has a fifty day moving average of $47.46 and a 200 day moving average of $46.34.

FB Financial (NYSE:FBK - Get Free Report) last released its quarterly earnings data on Monday, July 14th. The financial services provider reported $0.88 earnings per share for the quarter, missing analysts' consensus estimates of $0.89 by ($0.01). The business had revenue of $76.86 million during the quarter, compared to analyst estimates of $136.32 million. FB Financial had a return on equity of 10.15% and a net margin of 11.46%. Sell-side analysts anticipate that FB Financial Corporation will post 3.64 earnings per share for the current fiscal year.

FB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Tuesday, August 12th will be paid a $0.19 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.5%. FB Financial's dividend payout ratio is presently 39.38%.

FB Financial Company Profile

FB Financial Corporation operates as a bank holding company for FirstBank that provides a suite of commercial and consumer banking services to businesses, professionals, and individuals. The company operates in segments, such as Banking and Mortgage. It offers checking, demand, money market, and savings accounts; deposit and lending products and services to corporate, commercial, and consumer customers; and time deposits and certificates of deposits, as well as residential mortgage loans.